Classical economics is the:

Related Mcqs:

1. Which economics doctrine opposes government regulation or interference in commerce beyond the minimum necessary for a free enterprise system to operate according to its own economics laws and non-interference in affairs of others ?

   A. Free market economy B. Laissez faire also Laisser faire C. Open market economy D. Liberal market economy...

2. Who is called the father of Economics?

   A. J.P Kense B. David Ricordo C. Adam Smith D. Mankew Submitted by: M Faheem Jan...

3. For Economics category a first Nobel prize was given in____________?

   A. 1901 B. 1969 C.1945 D. 1968 Submitted by: Manzoor Ahmed Hoth...

4. In a planned or command economy, all the economics decisions are taken by the ?

   A. Consumers B. voters C. government D. Workers...

5. Normative economics Forms ________ based on ________?

   A. positive statements, facts B. opinions personal facts C. positive statements values D. opinions facts...

6. The economics system planned economy is ?

   A. In which economists control production B. In which production and distribution of wealth is under government’s control C. In which technocrats control production D. In which government controls distribution...

7. Rostow’s economics stages are ?

   A. The preconditions for takeoff, the takeoff, the drive to maturity and the age of creative destruction B. The traditional society the preconditions for takeoff, the takeoff, the drive to maturity and the age of high mass consumption C. the preconditions for consumption the replication the drive to maturity and the age of high mass...

8. Suppose that ABC publishing sells an economics textbook and accompanying study guide. Raheel is willing to pay Rs75 for the text and Rs15 for the study guide. Mariam is willing to spend Rs60 for the text and Rs25 for the study guide. Suppose both the book and study guide have a zero marginal cost of study production. If ABC publishing engages in tying the two products its best strategy is to charge a combined price of ?

   A. Rs 60 B. Rs 90 C. Rs 85 D. Rs 75...

9. Development economics focuses primarily on the poorest ______ of the worlds?

   A. population B. two thirds C. one third D. 28 percent E. 5 percent...

10. Naila owns a small pottery factory. She can make 1000 pieces of pottery per year and sell them for Rs 100 each. It costs Naila Rs 20,000 for the raw materials to produce the 1,000 pieces of pottery She has invested Rs100,000 in her factory and equipment: Rs50,000 from her savings and Rs50,000 borrowed at 10 per cent. (Assume that she could have loaned her money out at 10 her per cent, too) Naila can work at a competing pottery factory for Rs40,000 per year. The economics profit at Naila’s pottery factory is ?

    A. Rs80,000 B. Rs30,000 C. Rs75,000 D. Rs70,000...